Month: October 2016

It appears more discontent is heading the way of the Staff running the BCSC. In what can only be described as a very embarrassing video for Staff at the BCSC, the Principles behind Mountain Star Gold entered the offices of the BCSC in Vancouver with their legal representatives from Chile and a group of their investors – and issued legal documents alleging Staff (Roy Leon – Senior Compliance Officer and Shawn McColm – Staff Litigator) were involved in fraudulent activity with regards to Mountain Star. Implicit in their allegations are actions of big wigs at Barrick Gold, including former Prime Ministers Brian Mulroney and Stephen Harper.

Source: YouTube

As with many other current situations – the people of the World are waking up and standing up to corruption in government run agencies. As we have said before, the Staff at the BCSC are not above the law and MUST be held accountable for some very poor decisions made in the recent past. This story is going to get bigger and bigger considering who’s in play.

On May 18, 2016, and every day since that we have written on this blog, we have challenged you to answer simple questions regarding the matter we had before the BCSC. To date, NOT one of you have bothered to reply, or even defend our allegations against the BCSC Staff. For that, one could say you are very spineless and act without merit and we think you should all be ashamed of yourselves.

The BCSC appears to have two sets of rules and will only reply to something that supports their set agenda. In addition, it appears they have the newspaper reporters in their pockets because not one of the slimy writers will write a story against the “government machine” in fear of wrinkling the wrong feathers. They had NO problem reporting on day 1 of our hearing when the case was presented by the BCSC, reported a very biased one-sided story and did not cover the balance of the hearing when we presented our case and had 94% of the allegations (dollar amount) thrown out by the Panel.

To ANYONE who doubts what is being said in this blog and that we are not telling the truth, we say this….

“Why isn’t one of the most powerful government agencies in BC, with unlimited funds to fight legal battles, suing us for defamation? After sending out letters from your lawyer to Peter Harris and Christopher Burke – Why are you not suing them for defamation after threatening to do so?”

In our opinion, there are 2 reasons for them cowering up and putting their heads in the sand:

1. They are not able to sue for Libel/Defamation because we are not saying anything that is not true. Our blog posts contain facts and have not exaggerated the events or allegations made against their Staff. We have merely presented questions to the grossly incompetentBCSC Chair Brenda Leongand the person who appointed her, Premier Christy Clark. Neither of these women will respond to our repeated request. Items like BCSC staff manipulating evidence, not presenting the settlement offer, and the BCSC staff bringing assumptions into the hearing room ARE factually correct. The have no reply because they have NO defense.

2. Secondly, they do not want to argue against us, offer us another hearing, or answer our simple questions because they know the moment they do – they will be incriminating themselves and going down a road they definitely do not want to take. THEY DO NOT WANT THE TRUTH TO COME OUT IN A REAL COURTROOM. It would appear they don’t want to step outside their domain and have arealjudge (outside of their precious Kangaroo Court) telling the world what is happening within their walls. They will not answerFormer Investorsquestions as to why they did not accept the Settlement Offer because they know the former investors will NOT like their answers and more than likely sue them for acting in bad faith. And don’t forget (as posted earlier in this blog), we applied, through a Freedom of Information request, all correspondence from staff litigators to/from the Executive Director with respect to the Settlement Offer. There was NOTHING – these bozo’s (Staff Litigators Olubode Fagbamiye / C. Paige Leggat and Executive Director Paul Bourque) didn’t even have a discussion with one another regarding the investors opportunity to recoup some (if not all) of their funds! Incompetent!

Now, we will issue you three FORMAL CHALLENGES:

CHALLENGE #1: WE CHALLENGE YOU TO HAVE YOUR FLASHY LAWYERS SEND US A LETTER DEMANDING WE SHUT DOWN OUR BLOG FOR BEING INACCURATE AND/OR SLANDEROUS;

CHALLENGE #2: WE CHALLENGE YOU TO SUE US FOR DEFAMATION/LIBEL IF FOR ONE MOMENT OUR ALLEGATION OF BCSC STAFF ACTING IN BAD FAITH (WHEN MANIPULATING EVIDENCE IN THE PROCEEDINGS AGAINST US) IS NOT TRUE;

CHALLENGE #3: FINALLY, WE CHALLENGE YOU TO FORMALLY ADDRESS THE SETTLEMENT PROPOSAL (AS OUTLINED EARLIER IN THIS BLOG) THAT THE FCC AND DCF INVESTORS WOULD HAVE BENEFITED FROM.

IF YOU IGNORE US OR DO NOT HAVE YOUR COUNCIL COMMENCE LEGAL PROCEEDINGS AGAINST US IN THE NEXT 14 DAYS – WE WILL ASSUME THE ALLEGATIONS WE HAVE MADE AGAINST YOU TO BE VALID AND TO BE NON-CONTESTED. WE WILL PUBLISH YOUR RESPONSE (OR LACK OF) IN THIS BLOG 15 DAYS FROM NOW.

We are begging for you to finally act – it has been 152 days (and counting) since my blog started and you have all had your head in the sand. It his time people hear the truth. We want to go to court against you so we can start the process of people hearing the truth consisting a facts and not some slanderous, biased press release issued by your incompetent staff, followed up by being rail-roaded by your inept lawyers in the hearing itself, and then having employees that work in the same office as the litigators making a decision as some “independent” panel. Don’t forget, we have have a witness (brought in to testify FOR the BCSC) agreeing with our side; and the Panel still found that Staff proved this allegation. It is easy to conclude you people are all incompetent.

This is a telling time – the people are waking up and standing up to government agencies all over the World – specifically ones that appear to be corrupt! The BCSC is an agency that desperately needs an overhaul. It (like many of the agencies Clark’s government has touched) appears to be tainted.

Recently, a message come across our desk showing the 2015-2016 Compensation Disclosurefor the top 60 executives in the Province of British Columbia. Shocked, we discovered the BCSC Chair Brenda Leong now ranks 3rd in the Province with compensation of a whooping $499,251, behind only the former President and CEO of the University of British Columbia ($576,054) and the astonishing salary of the CEO of BC Investment Management ($2,506,056).

As you have read previously in this blog, the BCSC have issued over $340,000,000 in fines and have only recouped (since 2013) a incredibly small $156,061.34 from Respondents found to have been in breach of securities laws in the province. This is not even .0004590 cents on the dollar! Tell us again how this government organization is protecting the people of this wonderful province of British Columbia? These are your government officials that have put these people in charge – if you or I had this little success doing our jobs we would be terminated instantly!

Now we question – HOW DOES BRENDA LEONG COMMAND A SALARY OF $500,000 PER YEAR WHEN FAILING MISERABLY IN DIFFERENT ASPECTS OF HER JOB? When looking at the list, we can see several Executives in charge of BC’s universities that are making far less than 1/2 of what Leong brings into her home. How is this possible? And who has made this decision to pay her this enormous salary? WAKE UP CHRISTY CLARK!

And to give you an idea of how much she is overpaid – ONLY 0.7% of BC’s WORKFORCE MADE MORE THAN $250,000 IN 2015-2016. She is making double that!

As mentioned, it is time for change with these failing regulators and certainly time to look at the grossly over payment to a woman that is NOT doing her job – including standing up for her Staff and answering damn emails questioning her Staff’s actions.

Despite BCSC Lead Investigator Elizabeth (“Liz”) Chan admitting she assumed that the Respondents were raising capital, the Panel accepted her testimony and found this portion of the BCSC allegations to have been proven.

And this is despite the FACT that the BCSC brought in a witness that agreed with the Respondent – that the funds were a loan and NOT an investment.

Staff had the onus to bring valid, compelling evidence before the Panel. Wharram (who has no legal training) Chan admit that she assumed vital details that caused the Executive Director to issue portion of the Notice of Hearing against Wharram…

Yet the same Panel ruled the Executive Director proved “on the Balance of Probabilities” that the allegations were accurate. How is the compelling evidence?

The following attachment are part of the written Submissions on Liability the Respondents wrote in defense of this portion of the allegations.

We would formally like to ask BCSC Chair Brenda Leong, new Executive Director Peter Brady, any member of the Panel,and ANYONE else at the BCSC how you can be so incompetent and allow the quality of work Chan has exhibited during her investigation. Who’s in charge of the hen house?

The Respondents sent their time-sensitive Settlement proposal to Staff on November 7, 2013. Finally after 7 weeks of waiting the Respondents were very eager to receive the reply from the Litigator at the BCSC. As the attachment was opened, eagerness turned to frustration as Staff indicated they did not even take the Settlement Agreement to the Executive Director for approval (or even a review/negotiation). The reason the offer was time sensitive is the builder and lender were anxious to move the project forward in a timely fashion. There was NO reason ever given why Staff took this amount of time to reply.

Instead Staff indicated the only way they would take a Settlement Offer to the Executive Director is IF pleaded guilty to their long list of allegations and agreed to pay $5.8 million dollars in fines and disgorgement. The BCSC website indicates all Settlements must be paid in full at the time the Settlement Agreement is agreed to – this was impossible for the Respondents, let alone the FACT that many of the allegations in the Notice of Hearing were NOT accurate.

ON WHAT PLANET DOES A PERSON HAVE TO PLEAD GUILTY TO ALL ALLEGATIONS OUTLINED IN A NOTICE OF HEARING AND THEN PAY A “RANSOM” OF NEARLY $6 MILLION DOLLARS JUST TO GET THEIR SETTLEMENT OFFER NEGOTIATED? THIS IS BORDERLINE EXTORTION!

The parties could have avoided a long, lengthy, expensive hearing IF Staff Litigators and the Executive Director would have even looked at the proposal and actually thought about the investors. In hindsight, it appears that the BCSC did not have the investors best interest at stake as their website promotes – nor was it a fair system for all parties. Please read for yourself, the reply from Staff and ask “WHY DID THE BCSC NOT TAKE THE TIME TO EVEN REVIEW THE SETTLEMENT AGREEMENT WHEN SO MUCH WAS AT STAKE FOR THE INVESTORS?”

We encourage anyone affected by the Settlement Offer not even being put onto the Executive Directors desk for a review to contact the BCSC at 1-604-899-5600 during regular business hours. Maybe you can get an answer – the Respondents have certainly not been able to do so.